Rock media assets sold in £800,000 deal

The administrators of a collapsed Glasgow rock music media business have sold a raft of its assets in an £800,000 transaction.

Team Rock, founded by Billy Anderson, the former Scottish MD of Real Radio, called in administrators from FRP Advisory last month after battling losses for some time, with 73 staff losing their jobs at the £6 million turnover business just before Christmas.

FRP said international media group Future, owner of the Guitarist and PC Gamer titles, has now acquired the magazines, domain names, events, radio licence and websites of Classic Rock, Metal Hammer, Prog and Blues, along with the Golden Gods event operation.

Tom Maclennan, joint administrator and partner at FRP Advisory, said: “We are delighted to have sold the assets of Team Rock to Future and wish the new owners every success. The deal took just three weeks to conclude, during which time FRP Advisory received extensive support for our efforts to find a buyer, for which we are very grateful.” Future chief executive Zillah Byng-thorne added: “The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy-and-build strategy. It further reinforces our creation of a leading global specialist media platform with data at its heart, which we are monetising through diversified revenue streams.

“We look forward to developing further these iconic and much-loved brands and to continuing to serve their communities.” 0 Tom Maclennan of FRP Advisory praised the sale